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Minister: Budget draft is financial provision of development strategy extending from Victory to welfare society

19 November 2025 12:09 (UTC +04:00)

“The presented budget draft is the financial provision of the development strategy extending from victory to a welfare society," said Minister of Finance of Azerbaijan, Sahil Babayev, today during the discussion of the draft law “On the State Budget of the Republic of Azerbaijan for 2026” at the plenary session of the Milli Majlis, APA reports.

The minister stated that the discussion of the 2026 budget draft — the largest budget package in Azerbaijan's independence history — coincides with the fifth anniversary of the Victory, which has been written in golden letters into the history of Azerbaijan's modern statehood: “This victory was achieved precisely as a result of President Ilham Aliyev’s far-sighted and wise policy, the consistent reforms carried out in state and army building, as well as the efficient mobilization of our economic and financial resources. The budget draft presented today is also the financial provision of the development strategy that extends from victory to a welfare society.”

The minister stated that the draft budget for next year is also presented as a continuation of the path that led to the historic Victory: “The strategic foreign exchange reserves — which are the fundamental conditions of long-term macroeconomic stability — reaching 82.5 billion dollars, and the external public debt being equal to only 6 percent of GDP, are yet another indicator of the effectiveness of economic policy and the results of reforms. It should be especially emphasized that the multifaceted reforms carried out are also taken into account by international rating agencies, and after Fitch, this year, Moody’s also upgraded Azerbaijan’s sovereign credit rating to investment grade.”

The minister of finance noted that the increasing capabilities of our state have created conditions for strengthening social protection and consolidating our country’s position as a social welfare state: “As a result of the President’s initiatives, the fifth social reform package was implemented in 2025, and the amounts of minimum wages, minimum pensions, benefits, and allowances were increased. All these reforms are yet another manifestation of Mr. President’s attention to improving the well-being of the population, especially citizens belonging to socially vulnerable groups.”